Infectious Disease Diagnostics Market Set to Reach US$ 19.35 Billion in 2024 - Emerging Trends, Industry Forecast, Segmentation and Top Technologies

Geographically, the Infectious disease diagnostics market Asia Pacific is expected to register the highest CAGR during the forecast period. The growth of this regional segment can be attributed to the growing GDPs and a significant rise in disposable income levels, increased healthcare spending by a larger population base, modernization of healthcare infrastructure, and rising penetration of cutting-edge clinical laboratory technologies (especially in rural areas).

The global infectious disease diagnostics market was valued at USD 13.93 Billion in 2016 and projected to reach USD 19.35 Billion in 2022, at a CAGR of 5.6%. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2022.
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The infectious disease diagnostics market in this report is segmented by product & service, disease type, technology, end user, and region. The study tracks and analyzes competitive developments such as product launches& approvals, acquisitions, collaborations, agreements, partnerships, and expansions, and profiles key players and core competencies in the infectious disease diagnostics market.

Infectious disease diagnostics market is segmented into assays, kits, & reagents; instruments; and services & software. The assays, kits, and reagents segment accounted for the largest share of the global infectious disease diagnostics market in 2017. The large share of this segment can be attributed to the increasing number of infectious disease diagnostic tests carried out.

Infectious disease diagnostics are those devices which are used for the detection of microorganism present in the human body. Infectious diseases are caused due to various means such as infected food, water, air, surrounding, from an infected person, and others. Bacteria, virus, fungi, and others are the main protozoan’s responsible for such infections.

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Global infectious disease diagnostics market is segmented into hospitals/clinical laboratories, reference laboratories, physician offices, academic/research institutes, and other end users. In 2017, the hospitals/clinical laboratories segment accounted for the largest share of the global market. Also, this segment is expected to grow at the highest CAGR during the forecast period due to the large number of diagnostic tests carried out in hospitals.

Key players in infectious disease diagnostics market are Abbott (US), Becton, Dickinson and Company (BD) (US), biomérieux (France), Bio-Rad (US), and Roche (Switzerland). These players focus on inorganic strategies such as acquisitions, partnerships, agreements, collaborations and as well as organic strategies such as expansions and product launches & approvals to sustain their growth in the market.

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The infectious disease diagnostics market is segmented into major seven technologies, namely, immunodiagnostics, clinical microbiology, PCR, INAAT, DNA sequencing & NGS, DNA microarrays, and other technologies. In 2017, the immunodiagnostics segment accounted for the largest share of the global market.

The Infectious disease diagnostics market is regionally segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. North America is expected to dominate the infectious disease diagnostics market over the forecast period due to the presence of advanced medical facilities and presence of major players. Europe is expected to be the second largest growing region over the forecast period due to the high investment and technological advancement of infectious disease diagnostics over the forecast period.

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